From New York to Kentucky to Florida, accountants and tax lawyers are scanning the 1,000 page measure, fielding a swirl of questions from clients and swapping tips via email in their efforts to fully grasp the bill's far-reaching changes.

Congress was poised this week to pass the most sweeping overhaul of the federal tax code in three decades. The Republican legislation, which President Trump has promised to sign before Christmas, delivers most of its benefits to corporations and the wealthy, but there are key changes that affect individuals.

Some small business owners may pay lower taxes under the Republican tax overhaul, but accountants and consultants will want to read the fine print carefully - once the details are finally settled. And some owners may want to consider changing their corporate structure if parts of the proposed changes go through.

After a frenzy of congressional action to rewrite the tax code, salesclerks and chief executives are calculating their gains. Business was treated with the everyone's-a-winner approach that ensures no summer camper goes home without a trophy.

Republicans are moving a tax reform bill through Congress that could have both short-and long-term impacts on housing prices and trends. Real estate lobbies are concerned that bills crafted in the House of Representatives and the Senate eliminate incentives for homeownership and put the ability to purchase a home out of reach for many individuals.

The accounting world is beginning to change how entities globally recognize revenue. Federal Accounting Standards Board Accounting Standards Codification 606, Revenue from Contracts with Customers (Topic 606) is designed to have all entities recognize revenue universally.

By eliminating the deduction for most state and local taxes, an individual making a yearly salary of $1,000,000 - a figure not uncommon in the financial industry - would owe the Internal Revenue Service an additional $21,000.

If you think an estate plan is just for the rich and famous, think again. Anyone with assets, including a home, 401(k) plan, or savings account, should think about exactly how those possessions will be distributed one day.

On Oct. 31, Gov. Dannel P. Malloy signed a trick-or-treat bipartisan budget agreement that provided for a number of new tax changes. He also vetoed a hospital provider tax, but offered new language to revise it.

The online retailer now has more than a dozen Amazon Books stores, which also sell toys, electronics and small gifts. Kohl's has carved out space for Amazon shops in 10 of its department stores. Amazon also has small shops in several malls, and is selling most of its gadgets in 100 Whole Foods stores and opening pop-up shops in five.

The Joint Committee on Taxation, Congress' official nonpartisan budget analysts, reported that a pending Senate bill would give large tax cuts to millionaires while raising levies on American families earning $10,000 to $70,000 over 10 years.

Offering employees flexible work options could be the difference between keeping them and losing them. In fact, 62 percent of working professionals have left or considered leaving a job because it didn't have work flexibility.

The rewrite of the tax code, which the House passed on Thursday, proposed a 25 percent tax rate for small businesses for owners who report their profits as income on their tax returns. It was slightly higher than the 20 percent rate for corporations but a break from the top individual rate of 39.6 percent.

It's not a secret that Sears and Kmart continue to struggle. Their parent company, Sears Holdings, recently announced its financial performance. The theme appeared to be, we're not losing as much money.

President Donald Trump has insisted, for months, that the Republican tax plan he supports won't benefit him. In fact, Trump and his heirs potentially could save more than $1 billion overall under the GOP tax proposal that the House of Representatives passed Thursday, with most of that amount coming from a repeal of the estate tax, according to an analysis NBC News commissioned of Trump's one known 2005 tax return and his estimated net worth.

Macy's Inc. plans to close its store at Los Angeles' Westside Pavilion mall, as well as two others in California, the retail giant said Thursday as it grapples with consumers' increasing shift to online shopping.

Heading into a new committed relationship means both partners need to take stock of their retirement plans and legal documents, having detailed conversations not only about how to split monthly expenses, but how to plan for future health care needs, how heirs will factor into the estate and how aggressively they'll need to invest to stay ahead of inflation.

Year-end investing moves can pay off nicely at tax time the next spring, but can also trip you up. Take the wash-sale rule. Running afoul of it can destroy your tax savings from selling losers. But understanding it will let you claim those losses and avoid missing investment gains by sitting on the sidelines.

While many couples dissolve their marriages without significant legal involvement, divvying up retirement accounts, particularly pensions, is thorny. Doing it without a proper legal agreement could stick you with a hefty tax bill and penalties. In some cases, one party may end up with nothing.

Taxpayers who want up to a six-month extension to file their tax return file IRS Form 4868 have until mid-October to file. In recent filing seasons, some 10 million filers opted annually for the extra time-the IRS does not publish specific numbers.

Alpha Rising took a moment to recap what we've learned from the amazing women we have spent time with over the last few months and here's the takeaway: Women need to be financially independent. Period. End of story.

Attorneys and accountants practicing in this area know that the amount of tax loss is then a crucial component to consider when the parties, including a Federal District Court judge, are assessing the potential and actual sentencing of a defendant.

Wall Street can't be happy about Congress' proposal to cap our yearly 401k contributions at $2,400 - thats the tax-deferred amount we would be able to sock away in a retirement plan, down from $18,000.

Its official. For 2018, the estate and gift tax exemption is $5.6 million per individual, up from $5.49 million in 2017. That means an individual can leave $5.6 million to heirs and pay no federal estate or gift tax. A married couple will be able to shield north of $11 million ($11.2 million) from federal estate and gift taxes. And the annual gift exclusion amount is $15,000 for 2018 - up from $14,000 where its been stuck since 2013.

With value-based purchasing transforming the long-term care billing landscape, billers need to bill appropriately to ensure they are not leaving money on the table. The Medicare Guide for SNF Billing and Reimbursement will help tackle even the most complex billing issues.

A few weeks ago President Donald Trump told lawmakers he had changed his mind about the structure of his $1 trillion infrastructure investment plan. Previously the plan was contingent on private sector participation; now, President Trump reportedly said, he didnt want to take that route.

Last week, the Baker administration hauled Amazon.com Inc. to court over its refusal to share tax records, spurring debate about whether the move would hurt the states chances of landing Amazons second headquarters.

Marcum LLP was named 2017 Innovative Firm of the Year by LEA Global: The Leading Edge Alliance. The award was presented at the LEA Global North American Conference in Denver on Sept. 26. It recognizes Marcum for continual innovation in all aspects of the firms operation.

Homeowners would get a choice between deducting property taxes or mortgage interest on their federal tax returns as Republicans on Tuesday discussed modifications to the sweeping tax code overhaul proposed last month.

President Donald Trump calls his tax reform plan a middle class miracle. But the elimination of most deductions, including state and local taxes, has some in the Tri-State calling the proposal a middle class misery.

Half of the fastest-growing technology companies in Connecticut are in Fairfield County, according to the annual 2017 Marcum Tech Top 40, selected by Marcum LLP, an accounting and advisory firm headquartered in New York City, and the Connecticut Technology Council.

Jenny Deloy oversees approximately 30 professionals, and champions efforts to grow and build the Marcum SEC practice in the Midwest. She joined the firm in 2015 when it merged with Frost, Ruttenberg & Rothblatt, and since then has been instrumental in ensuring a successful and smooth merger integration.

The 9th Circuit Courts review of how construction contractors should recognize income had a somewhat surprising outcome. The key question being considered was: When should developers recognize income under the completed contract method?

As the Centers for Medicare and Medicaid Services (CMS) navigate what some may consider to be healthcares own modern-day Roman empire - a system undergoing serious revisions including how levels of care are monitored, the way reimbursement is divided, and the anything-but-straight-and-narrow shift from volume to value - SNF providers are participating in history being made.

Estate planning is not just for Boomers. It is an essential part of financial adulthood and is especially imperative for Millennials who have already amassed or inherited wealth, or expect to in the future.

About two years after quietly closing her boutique in New Yorks SoHo neighborhood, Ivanka Trump is opening another brick-and-mortar destination for her eponymous fashion line. The daughter of President Donald Trump is set to launch a new store this fall in Trump Tower, the Midtown Manhattan skyscraper that was her fathers longtime abode.

To successfully work in the field of business valuation, appraisers must perform assignments with impartiality, objectivity, and independence, and without consideration of personal interests or the interests of those who hired them.

Despite enjoying institutional advantages with respect to attracting foreign capital, lawmakers have viewed it as appropriate to create additional vehicles designed to attract capital inflows to the United States.

It has been a tough year for malls around the country with announcements of more store closures everywhere you look. The latest is Starbucks' announcement to close its 376 Teavana stores because many of the mallbased stores have been persistently underperforming.

It's mid-summer in the Bay Area. Do you know where your teenagers are? Well I don't know either, but one thing's sure, they're not at the mall. I checked. In fact, it seems a lot of people are not shopping at some of our venerable indoor malls.

Co-op, condo and HOA living represents a unique social arrangement; its a paid-for membership club and a home at the same time. Many people enter into this arrangement without a complete understanding of the responsibilities of membership.

Joseph Perry, tax and business services leader at Marcum LLP, discusses the issues that he feels need to be tackled in order to achieve U.S. tax reform. He speaks with Bloomberg's David Westin on Bloomberg Daybreak: Americas.

Alfred Angelo, one of the worlds largest manufacturers and retailers of wedding gowns, closed all 60 of its U.S. stores as it filed for Chapter 7 bankruptcy. The retailer, known for its Disneythemed designs, also has partnerships with some 1,400 retailers.

Top 100 Firm Marcum announced this week that they will hold their second annual Marcum Women's Forum in New York City on October 27th. Chelsea Clinton is set be the featured speaker for the breakfast event that looks to discuss topics relating to female leadership in the workplace.

On April 26, the Trump administration handed U.S. CEOs a generous gift in the form of a new tax reform plan. Designed to simplify the tax code and foster economic growth, it is a blueprint for how the administration intends to put more money in the hands of businesses and individuals alike.

The executive committee of New York-based Marcum has named Jeffrey Weiner chair and CEO and David Bukzin vice chair. Weiner previously served as MP, a position he had held since 1990. Bukzin held several titles, including PIC of Marcums SEC services practice group.

The 9th Circuit Court's review of how construction contractors should recognize income had a somewhat surprising outcome. The key question being considered was: When should developers recognize income under the completed contract method?

Business is excited. A combination of hard and soft data suggests that corporate America's business people are delighted by the new presidential administration's
pro-business agenda, which includes a combination of deregulation, altered approaches to trade and immigration, a possible infrastructure spending-led
stimulus package, potential health-care legislation, and, of course, tax cuts and tax compliance simplification.

Between 20% and 25% of the nation's shopping malls will close in the next five years, according to a new report from Credit Suisse that predicts e-commerce will continue to pull shoppers away from bricks-andmortar retailers.

Every summer, thousands of employees across Long Island trade in their business attire for their finest fitness gear and compete in the Marcum Workplace Challenge - a 3.5-mile charity walk/run around Jones Beach State Park in Wantagh, New York.

Investors and analysts are split on what's next for taxes in light of a renewed effort on Capitol Hill to tackle health care. The House of Representatives last Thursday passed the American Health Care Act, sending the legislation to the Senate, where GOP lawmakers have admitted the process is likely to stall.

A growing labor shortage in the commercial real-estate industry is driving up the costs of some projects and could complicate lawmakers plans for a $1 trillion infrastructure-spending program, contractors say.

While most people are catching on to the appeal of 529 plans, which offer tax-advantaged investments to pay for qualified education expenses, many still overlook a number of benefits these accounts provide.

MHP dates back to 1954 and specializes in business valuation, forensic accounting and litigation support services. The firms partners frequently serve as expert witnesses during legal disputes. Financial terms of the deal were not disclosed.

Untimely certifications, missed or incorrectly billed Change of Therapy documentation, or a lack of documentation supporting a signed physician order for skilled therapy are among the top reasons Medicare claims denials are hitting facilities.

Investors often say it's wise to pick a company based on the people who run it: Management, they say, matters as much as anything else. Track records talk. So wouldn't it be nice, then, if you could invest directly in top executives?

But they included taxes such as Social Security and Medicare, which typically arent considered part of the effective tax rate, said accountant Joseph J. Perry, a partner at the firm Marcum LLP in Melville.

You've finished your 2016 taxes and all the accompanying financial papers that went with it. So this is a good time to shred or trash the records you don't need and, while you're at it, others taking up space. But which financial records do you absolutely need to keep and which can you toss?

Amazon is building a bigger presence in California in July. It announced that it would open a fulfillment center in Sacramento. The compound will serve as the company's 10th fulfillment center in California.

The Pennsylvania Department of Revenue has revised a controversial letter ruling on computer software support, dialing back guidance in an earlier version that implied training and consulting services could be taxed.

There are 26 square feet of retail for every man, woman and child in the United States, according to a statistic quoted by Robin Lewis, chief executive and editorial director of The Robin Report, a platform covering retail.

The first big tax cut moving through Congress under President Donald Trump would likely benefit the president himself, potentially saving him millions of dollars in taxes on his rental income next year and even more money on other income if he wins a second term.

You'd think being producer of the massively successful Jason Bourne series would be enough. But amazingly, Weiner also has a "day job"--as managing partner of one of the most successful accounting firms in the world.

Karen Connair, a CPA with Marcum in Irvine, Calif., recently helped a California mortgage lender who set up an office in Nevada and became a Nevada resident reduce a good chunk of his tax liability, despite having to source some of his S corporation income back to California.

Diane Giordano, a tax partner at Marcum LLP in Melville, thinks Section 179 won't face the chopping block due to its popularity and the fact that it gives businesses an incentive to purchase equipment.

The survey concludes owners are optimistic about selling and exiting their businesses, but ill-prepared to do so. Proper planning is needed to optimize sale price and ensure transaction value meets exit needs for life after sale, the firms conducting the report said.

Internal controls stem from the idea that no one individual should have complete control over a given transaction process and that there should be proper segregation of duties among individuals involved in every process.

A contracting business is a living, breathing organism that needs to be fed. If unhealthy, that organism will put tight constraints on a contractor's ability not only to grow, but also to make payroll and fund projects.

The construction spending outlook for 2017 has improved with the election. Economists, pundits, and most of the United States have been puzzling over what
the election results from this past November will mean for the country, both in terms of public policy and economic performance.

Cash is essential to running day-to-day operations and improving a companys financial position when presented to banks and other creditors, so contractors continue to search for ways to keep cash available.

As public accounting firms continue to struggle to retain and advance women professionals, many are providing increased flexibility and launching initiatives to help them achieve their diversity goals.

The retail and consumer products industry is facing tremendous challenges, with fewer and fewer brick-and-mortar stores in operation and ceaseless pressure on discounted sales and with low margins for both retailers and manufacturers.

Raffa - Marcum's Nonprofit & Social Sector Group's strength and competitive edge lies in the fact that we provide expertise and superior service across a variety of essential interrelated financial, technology and consulting competencies.

CEOs of middle-market companies are split on whether U.S. trade policy is helping the nation’s economy, with nearly 60 percent reporting their businesses are feeling the effects of new tariffs on imports from China, according to the latest poll from Marcum LLP and Hofstra University’s Frank G. Zarb School of Business.

Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major
business markets throughout the U.S., as well as Grand Cayman, China and Ireland.